Applying for a business loan can be a challenge and being turned down a real disappointment. Even if you have a sound business proposition, not understanding what bankers look for when considering an application can cause problems.
Do you have a relationship with the bank you are applying to? Can you clearly explain the value proposition of your business? What about contingencies to repay the loan should things not work to plan?
Having your application turned down is often the result of not being properly prepared or being unable to present your business plan effectively. Read the following two articles for some in-depth advice to make sure your next loan application is successful!
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